401(K) Plan As Adopted By Westfield Bank — Form 5500 plan (Westfield Bank)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, 401(K) Plan As Adopted By Westfield Bank is a benefit plan reported by Westfield Bank under EIN 04-3305700 and plan number 002. The latest loaded filing year is 2023. The filing reports 422 participants and $41,915,329 in end-of-year plan assets, where available in the loaded dataset.
Key reported metrics
- Plan sponsor
- Westfield Bank
- EIN
- 04-3305700
- Plan number
- 002
- Plan type
- 2
- Location
- Westfield, MA
- Latest filing year
- 2023
- Participants
- 422
- End-of-year plan assets
- $41,915,329
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 422 | H, C | 20240708133554NAL0019954880001 |
Reported financial statement (2023 · Schedule H)
Net assets
- Total assets (EOY)
- $41,915,329
- Total liabilities (EOY)
- $0
- Net assets (EOY)
- $41,915,329
- Net assets (BOY)
- $33,817,072
Income & contributions
- Employer contributions
- $1,331,728
- Participant contributions
- $1,729,840
- Total contributions
- $6,599,716
- Total income / additions
- $11,973,006
Expenses & distributions
- Benefits paid
- $3,782,110
- Administrative expenses
- $62,248
- Total expenses
- $3,880,553
- Net increase / (decrease)
- $8,092,453
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Principal Life Insurance Company | CONTRACT ADMINISTRATOR | $42,468 | $0 | 2023 |
| H & H Investment Advisors | INVESTMENT ADVISORY | $8,471 | $6,311 | 2023 |
| Usi Advisors, Inc. | INVESTMENT ADVISORY | $11,309 | $7 | 2023 |
| Morningstar Investment Management L | INV ADV, PARTICIPANTS | $0 | $0 | 2023 |
Related Form 5500 pages
- All Form 5500 plans for Westfield Bank
- 2023 Form 5500 filing
- Form 5500 filings in MA
- 401(k) and benefit plan filings in Westfield, MA
- Principal Life Insurance Company — Schedule C compensation
- H & H Investment Advisors — Schedule C compensation
- Usi Advisors, Inc. — Schedule C compensation
- Morningstar Investment Management L — Schedule C compensation